Security Service FCU Marks $7 Billion Milestone

This time around, the $7 billion credit union in San Antonio said it reached a new lending milestone – $7 billion in loans – with more than three-fourths of its portfolio in indirect lending.

“We have built strong relationships over the years with members, and those relationships have driven the way we do business,” Jim Laffoon, SSFCU president, said in a statement.

“We remain steadfast in our commitment to providing the finest service and transactional convenience for our members whether they are buying a car, starting a business or purchasing a home,” Laffoon said.

The lending accolades continue to increase for SSFCU. In August, it was ranked fifth among prime retail credit lenders in the country, according to the J.D. Power 2013 U.S. Dealer Financing Satisfaction Study.

Last August, the credit union hit a new high again when its loan portfolio surpassed $6 billion for the first time.

SSFCU is currently the number one auto lender and fifth largest mortgage lender in San Antonio, according to the credit union.

Established in 1956 with eight members and $25 in deposits, SSFCU said it approved its first loan five months after opening and reached $20 million in loans by 1966.

“We are humbled by our members’ continued loyalty and trust in Security Service over the years,” said Laffoon. “Without it, we would never have reached this milestone.”